Our authors are experts in their field and include barristers, solicitors, judges, mediators, academics experts from a range of related disciplines.

Diego Ballon Ossio

Diego Ballon Ossio is a partner at Clifford Chance LLP, advising financial institutions and other market participants on financial market regulation and activities related to benchmarks, financial services trading and conduct requirements as well as payment services and fintech with a particular focus on cryptoassets, DLT and blockchain development.

diego.ballonossio@cliffordchance.com

Articles by author

Unravelling the Travel Rule: AML requirements for cryptoasset businesses

The Financial Action Task Force (FATF) recently updated its guidance for Virtual Assets and Virtual Asset Service Providers (VASPs) in October 2021 including on its Recommendation 16 that certain transfers of cryptoassets must be accompanied with identifiable originator and beneficiary information. The application of Recommendation 16 to VASPs has caused controversy, as it is regarded as being very difficult to comply with by the industry. This article explores whether the proposed implementation of the Travel Rule in the UK addresses any of the commonly cited practical difficulties with compliance (which are particularly pronounced for unregulated firms or start-ups that may be unaccustomed to being scrutinised in this way) in light of the most recent guidance.

1 DEC 2021

Unlocking the predictive power of AI in the investment management industry

Artificial intelligence (AI) typically “learns” through data points that are fed into its system. Firms using AI-powered tools in the provision of financial services will need to navigate the risks of using such technology, including ensuring there is data integrity to mitigate against the risk of embedded biases within the system’s decision-making process. Transparency and explainability are key to ensuring the decision-making processes of the AI technology can be clearly articulated to clients and regulators. This article considers the regulatory implications of relying on AI in financial services by considering the example of investment advice or portfolio management.

1 FEB 2024